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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Fed to hike rates in March
The US Fed, in its latest monetary policy decision, kept its benchmark interest rate steady at 0.25%, as widely expected. However, the central bank indicated that it could raise interest rates as soon as March for the first time since December 2018 as a part of a broader tightening of monetary policy. Further, officials noted that the central bank’s monthly bond-buying would proceed at just $30 billion in February, adding that it expects to end its program by early March.
US new home sales jumped in December
In the US, new home sales registered a rise of 11.90% on a MoM basis in December, compared to a revised advance of 11.70% in the previous month.
US advance goods trade deficit widened in December
In the US, advance goods trade deficit widened to $101.00 billion in December, compared to a deficit of $99.00 billion in the previous month.
US number of mortgage applications eased in the week ended 21 January 2022
In the US, the number of mortgage applications declined 7.10% on a weekly basis in the week ended 21 January 2022, compared to a rise of 2.30% in the previous week.
Australian Westpac leading index dropped in December
In Australia, the Westpac leading index slid 0.03% on a MoM basis in December, compared to a rise of 0.12% in the previous month.
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